2023-09-30-accounts

Registered number 10398783 Charity Registeration number 1190815

MENTOR WISE

Report and Accounts

30 September 2023

MENTOR WISE Report and accounts Contents

	Page
Company information	1
Directors' report	2-3
Accountants' report	4
Profit and loss account	5
Balance sheet	6
Statement of changes in equity	7
Notes to the accounts	8

MENTOR WISE Company Information

Directors

YUSUF DEMIR KAZIM KORHAN MISIRLIOGLU FEYZA USTUNDAG

Accountants

AA ACCOUNTANCY SERVICES 244 Chase Road London N14 6HH

Registered office 337 Fore Street London N9 0NU

Registered number 10398783

Charity Registeration number 1190815

1

MENTOR WISE Registered number: 10398783 Director/Trustees' Report

The director/trustees present their report and accounts for the year ended 30 September 2023. The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Objectives And Activities

The company's principal activity during the year continued to be providing mentoring services. This is a limited by guarantee company which is non profit making company and also a charity.

Charitable objects

1. To promote for the public benefit and by all charitable means the mental, spiritual, moral and physical development and improvement of young people and to provide opportunities for them to develop their full capacities and enable them to become responsible members of society so that their conditions of life may be improved. 2. For the public benefit to promote the education of people under the age of 25 years in such ways as the charity trustees think fit, including by developing their mental, physical, spiritual and moral capabilities through leisure time activities. 3. To advance the islamic faith for the benefit of the public, mainly but not exclusively, by the provision of islamic study courses to enlighten others about the islamic faith.

Public benefit

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

FINANCIAL REVIEW

Reserves policy

The charity currently has no reserves policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is constituted as a company limited by guarantee, registered under the Companies Act, and its governing documents is a Memorandum and Articles of Association under company legislation.

The governing document is dated 28 September 2016, and was amended by special resolution at Companies House on 29 April 2020.

By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibility as such under both company and charity legislation.

The trustees are all individuals.

Recruitment and appointment of new trustees

New charity trustees are appointed by existing charity trustees.

Directors

The following persons served as directors during the year:

YUSUF DEMIR KAZIM KORHAN MISIRLIOGLU FEYZA USTUNDAG

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MENTOR WISE Registered number: 10398783 Director/Trustees' Report

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 19 June 2024 and signed on its behalf.

Kazim Korhan Misirlioglu Director

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MENTOR WISE

Report to the directors on the preparation of the unaudited statutory accounts of MENTOR WISE for the year ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MENTOR WISE for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

AA ACCOUNTANCY SERVICES Chartered Certified Accountants 244 Chase Road London N14 6HH

19 June 2024

4

MENTOR WISE

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023

Income Direct Charitable expenditure Gross Surplus Administrative expenses Other operating income Operating Surplus Surplus before taxation Tax on Surplus Surplus for the financial year	2023 £ 196,688 (68,922) 127,766 (125,601) 2,494 4,659 4,659 - 4,659	2022 £ 120,622 (15,047) 105,575 (107,744) 6,674 4,505 4,505 - 4,505

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MENTOR WISE

Registered number: 10398783 Balance Sheet as at 30 September 2023

Notes Fixed assets Tangible assets 3 Current assets Stocks Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets Capital and reserves Profit and loss account Shareholder's funds	2023 £ 81 25,450 34 15,427 40,911 (18,748) 22,163 22,244 22,244 22,244	2022 £ 108 4,500 7,012 18,506 30,018 (12,541) 17,477 17,585 17,585 17,585

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Kazim Korhan Misirlioglu Director

Approved by the board on 19 June 2024

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MENTOR WISE

Statement of Movement in Funds for the year ended 30 September 2023

Restricted Funds £ At 1 October 2021 - Surplus for the financial year At 30 September 2022 - At 1 October 2022 - Surplus for the financial year At 30 September 2023 -	Unrestricted Funds £ 13,080 4,505 17,585 17,585 4,659 22,244	Total Funds £ 13,080 4,505 17,585 17,585 4,659 22,244

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MENTOR WISE Notes to the Accounts for the year ended 30 September 2023

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Freehold buildings	over 50 years
Leasehold land and buildings	over the lease term
Plant and machinery	over 5 years
Fixtures, fittings, tools and equipment	over 5 years

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

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MENTOR WISE Notes to the Accounts for the year ended 30 September 2023

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Leased assets

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

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MENTOR WISE

Notes to the Accounts

for the year ended 30 September 2023

2 Employees Average number of persons employed by the company 3 Tangible fixed assets Cost At 1 October 2022 At 30 September 2023 Depreciation At 1 October 2022 Charge for the year At 30 September 2023 Net book value At 30 September 2023 At 30 September 2022 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Trade creditors Taxation and social security costs Other creditors	2023 Number 13 2023 £ 34 2023 £ 6,076 1,524 11,148 18,748	2022 Number 3 Plant and machinery etc £ 135 135 27 27 54 81 108 2022 £ 7,012 2022 £ - 2,254 10,287 12,541

6 Other information

MENTOR WISE is a private company limited by guarantee and incorporated in England. Its registered office is: 337 Fore Street

London N9 0NU

10

MENTOR WISE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023

This schedule does not form part of the statutory accounts

Income Direct Charitable expenditure Gross Surplus Administrative expenses Other operating income Operating Surplus Surplus before tax	2023 £ 196,688 (68,922) 127,766 (125,601) 2,494 4,659 4,659	2022 £ 120,622 (15,047) 105,575 (107,744) 6,674 4,505 4,505

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MENTOR WISE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023

This schedule does not form part of the statutory accounts

INCOME AND ENDOWMENTS Donation Grants Unrestricted Sales Direct Charitable expenditure Purchases Meeting and event expenses Mentoring expenses Decrease/increase in stocks Administrative expenses Employee costs: Wages and salaries Directors' salaries Employer's NI Bursary Staff training and welfare Travel and subsistence Motor expenses Premises costs: Rent General administrative expenses: Telephone and fax Postage Stationery and printing Donation Subscriptions Insurance Equipment expensed Software Repairs and maintenance Depreciation Sundry expenses Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional Other operating income Other operating income	2023 £ 67,171 47,779 81,738 196,688 89,747 125 - (20,950) 68,922 68,815 11,381 2,466 4,050 544 1,170 185 88,611 31,180 31,180 1,128 19 667 1,500 18 843 66 191 - 27 15 4,474 600 147 589 1,336 125,601 2,494	2022 £ 17,518 53,601 49,503 120,622 18,787 360 400 (4,500) 15,047 26,303 10,201 1,719 - 4,968 28,332 - 71,523 29,690 29,690 672 37 552 - 11 828 2,900 281 4 - 15 5,300 600 80 551 1,231 107,744 6,674

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